Common Prosperity and Prospects for China’s Economic Development

This chapter addresses several interrelated questions in relation to common prosperity: What does common prosperity mean? How can it be effectively achieved? What international practices can China draw on to achieve common prosperity? What institutional strengths and challenges does China face in this endeavour? What are the implications of achieving common prosperity for Chinese enterprises? From a global perspective, common prosperity is not just a Chinese concern, but a global issue. To achieve common prosperity, China can draw lessons from countries that have successfully achieved it and learn from those that have faced challenges or failed in this endeavour. Ultimately, China must chart its own course, tailored to its unique circumstances and institutional framework.